Investing.com – United Arab Emirates stocks were lower after the close on Wednesday, as losses in the Banking, Insurance and Finance & Investment sectors led shares lower.
At the close in Dubai, the DFM General declined 0.51% to hit a new 1-month low, while the ADX General index declined 0.32%.
The best performers of the session on the DFM General were Takaful Emarat PSC (DU:TKFE), which rose 6.67% or 0.130 points to trade at 2.080 at the close. Meanwhile, AJMAN BANK PJSC (DU:AJBNK) added 4.17% or 0.072 points to end at 1.810 and Gulf Navigation Holding PJSC (DU:GNAV) was up 2.88% or 0.030 points to 1.070 in late trade.
The worst performers of the session were Islamic Arab Insurance Company (DU:SALAMA), which fell 3.34% or 0.015 points to trade at 0.434 at the close. Dubai Islamic Insurance Co. (DU:AMAN) declined 3.01% or 0.018 points to end at 0.580 and SHUAA Capital PSC (DU:SHUA) was down 2.98% or 0.019 points to 0.619.
The top performers on the ADX General were Abu Dhabi National for Building Materials Co PJSC (AD:BILD) which rose 8.70% to 0.500, Gulf Cement Co (AD:GCEM) which was up 1.11% to settle at 0.91 and Natl Bk Of Ad (AD:NBAD) which gained 0.96% to close at 8.45.
The worst performers were Green Crs Ins (AD:GCIC) which was down 9.09% to 0.800 in late trade, Rak Cmt & Cons (AD:RAKC) which lost 3.42% to settle at 1.13 and Rak Properties (AD:RPRO) which was down 3.28% to 0.590 at the close.
Falling stocks outnumbered advancing ones on the Dubai Stock Exchange by 21 to 9 and 5 ended unchanged; on the Abu Dhabi Stock Exchange, 15 fell and 7 advanced, while 8 ended unchanged.
Shares in Takaful Emarat PSC (DU:TKFE) rose to 5-year highs; up 6.67% or 0.130 to 2.080. Shares in Rak Cmt & Cons (AD:RAKC) fell to 3-years lows; down 3.42% or 0.04 to 1.13.
Crude oil for June delivery was up 0.46% or 0.22 to $48.53 a barrel. Elsewhere in commodities trading, Brent oil for delivery in July rose 0.20% or 0.10 to hit $49.38 a barrel, while the June Gold contract fell 0.08% or 1.00 to trade at $1275.90 a troy ounce.
USD/AED was unchanged 0.00% to 3.6731, while EUR/AED fell 0.29% to 4.1449.
The US Dollar Index was up 0.19% at 94.73.